Investors Challenge WPP Over Sorrell's Departure
The world's biggest advertising agency WPP faced a shareholder revolt over its handling of the departure of former CEO Martin Sorrell after large votes against the chairman and the company remuneration report.
The most famous advertising executive in the world, Sorrell quit the marketing giant he built from scratch following an allegation of personal misconduct in April.
Nearly 30% of WPP shareholders failed to back its executive pay proposal on Wednesday, while almost 17% of shareholder votes declined to support the re-election of Roberto Quarta as chairman.
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